The Metals Company and Allseas announce success


  • An Allseas-designed nodule-collecting pilot vehicle was deployed from the Hidden Gem vessel and lowered to the seabed
  • All critical functions of the pilot collector vehicle have been successfully tested ahead of full pilot nodule collection trials in the Clarion Clipperton area of ​​the Pacific Ocean later this year
  • Upcoming trials in TMC’s NORI-D contract area are expected to include the deployment of a four-kilometer-long riser, an umbilical that provides power and control during seafloor operations, and a 500 meter long flexible connection hose to connect to the collection vehicle.

NEW YORK, March 22, 2022 (GLOBE NEWSWIRE) — The Metals Company (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of critical battery metals, has today announced the successful deployment and commissioning of wet trials of the robotic nodule collection pilot vehicle with the Company’s strategic partner and shareholder, Allseas Group SA (“Allseas”).

During the commissioning of the harbor wet trials undertaken at the Port of Rotterdam, the Allseas designed Pilot Collector Vehicle underwent extensive equipment testing and all systems were found to be fully functional. The main features and functions of the robotic vehicle, including pumps, nozzles, manual and automatic operation modes, were successfully tested while several operators received extensive training on the equipment.

“This is an important milestone and I am grateful to have such a capable and knowledgeable partner in Allseas to take us this far,” said Gerard Barron, CEO and President of The Metals Company. “With Allseas handling the design, assembly and testing of the pilot collection system, I believe we have the best minds in the business on this matter. We expect to learn a great deal from this year’s trial programme. So far everything has gone well, but I’m sure the Allseas team will have their share of challenges along the way.Allseas and TMC share a desire to move the NORI project forward quickly and in a We expect the pilot system tested by Allseas to be the basis for our first commercial production system – and last week we announced a non-binding term sheet outlining the general framework and potential commercial terms for a such upgrade.

With the first wet trials of the pilot collector vehicle now complete, Allseas engineers will begin preparations for full pilot nodule collection trials over a distance of 8 km.2 section of the NORI-D contract area in the Clarion Clipperton area of ​​the Pacific Ocean later this year. These trials are an integral part of the International Seabed Authority’s regulatory and permitting process and the environmental impact data collected during and after this nodule collection trial work will form the basis of the contract application. operated by TMC’s wholly-owned subsidiary, Nauru Ocean Resources Inc. (NORI).

Since 2019, Allseas and TMC have been working together to develop a pilot system to responsibly collect unattached polymetallic nodules from the seabed and bring them to the surface for transport to land. The nodules contain high levels of nickel, manganese, copper and cobalt – key metals needed to build electric vehicle batteries and renewable energy technologies.

The development of polymetallic nodule collection technologies began in the 1970s when oil, gas and mining majors including Shell, Rio Tinto (Kennecott) and Sumitomo conducted successful pilot trials in the CCZ, recovering more than ten thousand tons of nodules. Over the ensuing decades, the ISA was created to develop the regulatory framework governing deep sea mining, while technology development efforts have largely focused on scaling proven technologies from nodule collection and optimization to minimize seabed disturbance and environmental impact.

About The Metals Company

TMC the metals company Inc. (The Metals Company) is an explorer of low-impact battery metals from polymetallic nodules of the seabed, with a dual mission: (1) to provide metals for the clean energy transition with the least amount of possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The Company, through its subsidiaries, holds exploration rights to three polymetallic nodule contract areas in the Clarion Clipperton Area of ​​the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru. , Kiribati and the Kingdom of Tonga. More information is available at www.metals.co.

About Allseas

Allseas is a world-leading contractor in the offshore energy market, with dynamism, rapid progress and a pioneering spirit at its heart. Allseas specializes in the installation of offshore pipelines, heavy transport and underwater construction. The company employs more than 4,000 people worldwide and operates a versatile fleet of specialist heavy lift, pipelay and support vessels designed and developed in-house.

More information about Allseas can be found at www.allseas.com

Forward-looking statements

Certain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally accompanied by words such as ” believe”, “can”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “would”, “plan”, “predict”, “potential”, “seem”, “seek”, “future”, “prospects” and similar expressions which predict or indicate future events or trends or which are not statements of historical matters, including relating to progress of the NORI project, the success of the pilot system and matters relating to the potential commercial terms of our first commercial production system.These forward-looking statements involve significant risks and uncertainties that could ent cause actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are beyond TMC’s control and are difficult to predict. Factors that could cause such differences include, but are not limited to: Allseas’ ability to conduct a full pilot trial of nodule collection in the Clarion Clipperton area; TMC’s ability to enter into one or more definitive agreements with Allseas regarding the proposed strategic alliance to develop and operate a commercial gathering system on terms substantially similar to those set forth in the non-binding term sheet; successful collection pilot tests; TMC’s ability to obtain operating contracts for its perimeters in the CCZ; regulatory uncertainties and the impact of government regulation and political instability on TMC’s resource business; changes in any laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and the recovery rates of impacted ecosystems; TMC’s ability to develop minerals in sufficient quality or quantities to justify commercial operations; the lack of development of polymetallic nodule deposits on the seabed; uncertainty in mineral resource calculation estimates of certain contract areas and the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; the uncertainty of the specialized treatment and processing of polymetallic nodules that TMC may recover; risks related to collective, development and transformation operations; fluctuations in transportation costs; testing and manufacturing of equipment; risks associated with TMC’s limited operating history; the impact of the COVID-19 pandemic; risks associated with TMC’s intellectual property; and other risks and uncertainties, including those in Item 1A “Risk Factors” of TMC’s Quarterly Report on Form 10-Q for the three months ended September 30, 2021, filed by TMC with the Securities and Exchange Commission ( “SEC”) on November 15, 2021, and in TMC’s other future filings with the SEC. TMC cautions that the above list of factors is not exclusive. TMC cautions readers not to place undue reliance on forward-looking statements, which speak only as of the date made. TMC neither undertakes nor accepts any obligation or undertaking to issue updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. , except as required by law.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/a338f7a1-5597-40e0-9d30-ae2f51e2ec10

https://www.globenewswire.com/NewsRoom/AttachmentNg/b01ae8a0-718b-47d3-a5e4-6d2c78fc15b0


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